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General Insurance Corporation of India IPO (General Insurance Corporation IPO) Detail

Oct 11, 2017 - Oct 13, 2017

Incorporated in 1972, General Insurance Corporation of India is the largest reinsurance company in India in terms of gross premiums. They provides various general insurance products like property, energy, marine, engineering, miscellaneous, aviation-hull/spares-rotor wing, aviation-hull/spares-fixed wing, liability, aviation treaty–hull, spares and liability insurance products. They also offers cargo and offshore energy, motor, life, agriculture, space, health, credit and financial insurance.

They offers reinsurance solutions for the Afro-Asian region and reinsurance programs in South East Asia, the Middle East and Africa. They develop their overseas business through their home office in Mumbai, branch offices in London, Dubai and Kuala Lumpur, a representative office in Moscow, a subsidiary in the United Kingdom that is a member of Lloyd’s of London and a
subsidiary in South Africa.

Competitive Strengths

1. Leader in Indian reinsurance industry with 44 years of experience
2. International presence
3. Diversified product portfolio and revenue streams
4. Strong financial track record and a strong balance sheet
5. Experienced management team

Company Promoters:

The Promoter of the company is President of India, acting through the Ministry of Finance.

Company Financials:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. million)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 485,269.54 406,375.76 430,986.15 332,005.86 281,390.59
Total Revenue 36,441.79 32,340.78 30,995.34 26,985.09 25,111.20
Profit After Tax 28,578.52 26,549.18 28,026.85 23,218.42 22,888.64

Objects of the Issue:

The Offer comprises of the Fresh Issue and the Offer for Sale.

1. Offer for Sale

Corporation will not receive any proceeds from the Offer for Sale.

2. Fresh Issue

Corporation proposes to utilize the Net Proceeds from the Fresh Issue towards:
(i) Augmenting the capital base of the Corporation to support the growth of their business and to maintain current solvency levels; and
(ii) General corporate purposes.

Issue Detail:

  »»  Issue Open: Oct 11, 2017 - Oct 13, 2017
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 124,700,000 Equity Shares of Rs 5 aggregating up to Rs 11,372.64 Cr
    ›  Fresh Issue of 17,200,000 Equity Shares of Rs 5 aggregating up to Rs [.] Cr
    ›  Offer for Sale of 107,500,000 Equity Shares of Rs 5 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 5 Per Equity Share
  »»  Issue Price: Rs 855 - Rs 912 Per Equity Share
  »»  Market Lot: 16 Shares
  »»  Minimum Order Quantity: 16 Shares
  »»  Listing At: BSE, NSE

General Insurance Corporation IPO Reviews:

  1. General Insurance Corporation of India IPO review by Dilip Davda

Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & TimeQIBNIIRIIEmployeeTotal
Shares Offered / Reserved62,277,90018,683,37143,594,532144,197124,700,000
Day 1 - Oct 11, 2017 17:00 IST1.55000.01000.06000.13000.8000
Day 2 - Oct 12, 2017 17:00 IST1.68000.02000.16000.42000.9000
Day 3 - Oct 13, 2017 20:50 IST2.25000.22000.63000.94001.3800

General Insurance Corporation IPO Prospectus

General Insurance Corporation IPO Rating

1094
4.0
Rating:Rated 4.0 stars

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General Insurance Corporation IPO News Alerts

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Company Contact Information

General Insurance Corporation of India
‘Suraksha’ 170, J Tata Road,
Churchgate,
Mumbai 400 020
Phone: + (91 22) 2286 7000
Fax: + (91 22) 2288 4010
Email: investors.gic@gicofindia.com
Website: http://www.gicofindia.com

General Insurance Corporation IPO Registrar

Karvy Computershare Private Limited   »  Report
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: gic.ipo@karvy.com
Website: http://karisma.karvy.com

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General Insurance Corporation IPO Review / Comments

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1007. stkanlyst  Oct 21, 2017 1:31:54 PM IST I Like It. 1 | Report Abuse Reply
Hi,

I have applied 2 applications under 1 PAN. 1 application got allotted. Is this legally correct or can I sue Karvy for wrong allotment. Experts advice please.
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1007.10. Cool Sunshine  Oct 22, 2017 8:15:28 PM IST I Like It. | Report Abuse
Idea is simple....look reasons to reject when issue is oversubsribed. When issue is undescribed what is the point of rejecting an application unless allotment is illegal. Did they allot share in both of your applications? If yes then you may decide to take legal recourse. If they alloted only in one application then it is not an illegal allotment.
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1007.11. stkanlyst  Oct 22, 2017 9:03:02 PM IST I Like It. | Report Abuse
In fact I did 2 applications each for 3 PANs. In all the 3, allotment is done in 1 and rejected in the other. Due to undersubscription they have done allotment for 1. I intentionally did that on the 3rd day to cancel my allotment. Registrar has done illegal thing. They should have rejected all the 6 applications instead of only 3.
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1006. Aman hegde  Oct 22, 2017 8:41:49 PM IST I Like It. | Report Abuse Reply
I have taken 96 shares at 912.still no amt debited. Neither karch msg says no application found.. Through bank of baroda account no information.... Amt still only in blocked stage.. Wt to do.. Any suggestions?!
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1006.1. vikas bisoi  Oct 22, 2017 9:02:48 PM IST I Like It. | Report Abuse
For me BOB amount debited..
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1005. Chauhan Sir  Oct 22, 2017 8:57:47 PM IST I Like It. | Report Abuse Reply
In hdfc sec, no allotment done ,karvy site and karvy app no allotment status updated . I have checked in bse site no allotment done in this site . Then conclusion that no allotment done till now . Tomorrow allotment out at upper band 912-45 =867: that''s final conclusion
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1004. PuMa  Oct 22, 2017 12:36:28 PM IST I Like It. | Report Abuse Reply
I happen to see many of the boarders mentioning they have applied 224 shares as full application in the RII category. Just thought of clearing the misunderstanding in case if any.

224 shares = 204288 INR. This application will be considered as HNI and no retail discount will be given.
For retail the max application to be considered is 208 shares.

Majority of the friends who are already aware please ignore.
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1004.3. Uchit Patel  Oct 22, 2017 5:41:08 PM IST I Like It. 1 | Report Abuse
Top Contributor Top Contributor (400+ Posts, 700+ Likes)
For retail category(max limit) final allotment price (after deducting discount) is considered. If final price comes less than 2 lakh then it is considered as Retail not HNI. If apply price is more than 2 lakh then don''t worry. After discount it should be less than 2 lakh.

Same thing in OFS.
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1004.4. PuMa  Oct 22, 2017 8:40:42 PM IST I Like It. 2 | Report Abuse
Guys,

I really apologize for my mistake. I got misguided as some of the online banks permitted only max 208 shares.

Thank you Satish Prasad, Prashant Hemrajani & Uchit Patel for clarifying for everyones benefit.
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1003. Pacca  Oct 22, 2017 8:14:42 PM IST I Like It. | Report Abuse Reply
Hi good news....got a sms from Karvy...allotted 32shares of GIC.....account has not be debited at HDFC....maybe they will do it tom.

send sms to Karvy mobile no.....good suggestion...thanks a lot
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1003.1. Kev  Oct 22, 2017 8:30:29 PM IST I Like It. | Report Abuse
How to send SMS?
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1002. NPT  Oct 22, 2017 8:27:39 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
There is little chance for negative listing of GIC as only three crore shares roughly will be available for trading. Moreover, all the retailers will not be interested or in a position to off-road their shares. Then available shares for delivery would be around two crore.
I am therefore expecting a favourable listing.
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1001. vikas bisoi  Oct 22, 2017 8:26:31 PM IST I Like It. | Report Abuse Reply
Dont know howcm HDFC and UBI left behind the race this time?
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1000. Prashant Hemrajani  Oct 22, 2017 8:18:28 PM IST I Like It. | Report Abuse Reply
Now guys please don''t send negative messages and please talk positive for this counter.... Can anybody tell the current GMP for GIC????
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999. Cool Sunshine  Oct 22, 2017 8:05:17 PM IST I Like It. 1 | Report Abuse Reply
When the subscription to this IPO was open, folks in this forum mentioned kostak range of INR4500-5500 for a 2lac application.
I am curious to know how 2.5 to 3% gain is justified considering the risk involved in this IPO.
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998. Cool Sunshine  Oct 22, 2017 7:53:43 PM IST I Like It. 1 | Report Abuse Reply
All the best to all investors with allotment. Suggest timely exit on listing if it list with premium. Gains are not expected to continue for long.
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997. A H T  Oct 22, 2017 7:24:29 PM IST I Like It. | Report Abuse Reply
your mobile must be regd. with karvy
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997.1. Hello IPO  Oct 22, 2017 7:47:07 PM IST I Like It. | Report Abuse
Hi AHT,
Thank you so much for mobile number, I have allotted 6/6 shares from GIC.
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996. Vikrant Ji  Oct 22, 2017 7:21:10 PM IST I Like It. | Report Abuse Reply
What aspects about GIC on 25 th
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996.1. Vikas Goyal  Oct 22, 2017 7:44:57 PM IST I Like It. 1 | Report Abuse
According to me , only 2.75 cr ( 22% ) share will be available in market on listing day . Rest shares will be in hand of QIB which cannot sell due to lock in period . I think listing will be above Rs 912 .....Let''s hope for good listing .
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995. A H T  Oct 22, 2017 7:21:10 PM IST I Like It. | Report Abuse Reply
Send missed call from your Regd. Mobile phone to9210993399 to get allotment status from karyv. I received status 3/3 by SMS Now
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994. A H T  Oct 22, 2017 7:19:42 PM IST I Like It. | Report Abuse Reply
Send missed call from your Regd. Mobile phone to9210993399 to get allotment status from karyv
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993. Uchit Patel  Oct 22, 2017 3:22:32 PM IST I Like It. 12 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 700+ Likes)
I am not understanding why investors are applying at lower price and then making questions why they are not allowed?

There is simple rule you always have to apply at cut off if you want allotment. No research no comment no questions.

In ipo issue price is same for retail and other categories.

In GIC retail category was undersubscribed and other categories were over subscribed and overall ipo was oversubscribed. Then why GIC will allocate shares at lower price ? I am not understanding. Company will always swap allocations to different categories to get maximum price. Same way here GIC allocated retail portions which were applied at lower price is allocated to QIB which were applied at cutoff.

When QIB is ready to pay cutoff then why GIC will allocate shares to retail at lower price ? GIC is not fool.

There are chances investors will get allotment at lower price or middle price in the range when issue is undersubscribed overall. This is one condition only. If issue is more than 75% subscribed overall at cutoff then chances are more that company will reduce the whole ipo size to 75% and allocate shares to cutoff only. This way investors will not get anything if they apply at lower price.
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993.1. UPINVEST  Oct 22, 2017 6:52:28 PM IST I Like It. | Report Abuse
Wah sir

Concept clear ho gaya..

Thanks a lot
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992. Uchit Patel  Oct 22, 2017 5:42:42 PM IST I Like It. 2 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 700+ Likes)
For retail category -max limit, final allotment price (after deducting discount) is considered. If final price comes less than 2 lakh then it is considered as Retail not HNI. If apply price is more than 2 lakh then don''t worry. After discount it should be less than 2 lakh.

Same thing in OFS.
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991. Vijay M Agrawal  Oct 22, 2017 5:35:35 PM IST I Like It. | Report Abuse Reply
I had applied 224 in retail category in BOB and allotted 224 shares @912-45=867 but in SBI online bidding was maximum for 208 shares and in offline successful bidding was for 224 shares
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990. Pacca  Oct 22, 2017 2:15:59 PM IST I Like It. | Report Abuse Reply
Guys pls check this site

http://www.bseindia.com/investors/appli_check.aspx

It shows status of allotment of GI....in my case there is nothing mentioned in allotment column....those u have got messages can check this...maybe the allotment shares will be reflected for them.
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990.3. Kev  Oct 22, 2017 4:56:13 PM IST I Like It. | Report Abuse
Yes I have an account with HDFC BANK. I don''t know whether they have different procedure, but I checked all the IPOs in which I applied. Those where I have not been alloted, didn''t show paid amount. And for allotment it shows amount paid proportionate to allotment.
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990.4. Kev  Oct 22, 2017 5:04:53 PM IST I Like It. | Report Abuse
Don''t worry brother. It is thumb rule to allot 100% if you applied at cut off in retail portion when it is not fully subscribed. And in GIC shares have been alloted at 912. So for retail category it is 912-45=867. U will definitely get allotment provided that your application is proper.
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989. Carn Mohan  Oct 22, 2017 4:11:43 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts)
After listing if available below ₹ 800 than buy for 4,5 years time frame.
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989.1. ANANDARAGAVAN  Oct 22, 2017 4:32:46 PM IST I Like It. | Report Abuse
I had applied at 855 which rounded to 811.is there any chance to get allotment?
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988. A krishnan  Oct 22, 2017 4:11:07 PM IST I Like It. | Report Abuse Reply
Those who hv applied at cut off got full allotment in GIC.retailers r allotted @ 867
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